Ingenico ePayments signs exclusive processing deal with Latin America's Cabify
15 November 2016 | 2256 views | 0
Source: Ingenico ePayments
Ingenico ePayments, the online and mobile commerce division of Ingenico Group, today announced that it has entered into an exclusive partnership with Cabify, a leading transportation platform in Latin America.
With this partnership, both companies aim to provide consumers an optimized and secure payment experience by offering the payment options that match regional and local preferences.
Cabify, founded in 2011 by Spanish entrepreneur Juan de Antonio, has received more than USD 150 million in investments, which reflects the company’s successful business model and potential for further growth. Cabify currently has offices in 12 countries and more than 33 cities across Spain, Portugal, and Latin America.
From October 2016, Ingenico ePayments exclusively processes both full-service and gateway payments for Cabify. Consumers will be offered credit card in-app purchasing as the primary payment option, and as the business expands over the region in the next few months, new currencies and payment methods will be added to ensure that consumers will have payment options tailored to their preferences.
With customers all around Latin America, Ingenico’s portfolio of key local payment methods and cross-border processing capabilities will help Cabify to increase transaction conversion rates, resulting in increased revenue and a seamless and secure payment experience for consumers.
“At Cabify, we believe in one key principle to run a successful and long-lasting business: providing our customers with a seamless and secure service that is fully compliant with local regulations. This vision allowed us to grow into different markets and gain the trust of our customers in every region. Ingenico ePayments showed us they share the same principle and that they have the expertise and willingness to be our strategic partner as we continue our growth path in Latin America,” said Juan de Antonio, Chief Executive Officer & Founder of Cabify.
Matias Fainbrum, General Manager, Ingenico ePayments Latin America stated: “We are very pleased that Cabify has chosen Ingenico ePayments as strategic partner to support their regional expansion. Our main focus is to develop payment processing solutions for innovative and disruptive companies such as Cabify, creating a seamless and secure environment for their customers. We are delighted to partner together with Cabify on their steep growth path and deliver the fastest payments processing activation for all the new countries in the region they will launch operations in.”
Cabify operates in many different countries, with diverse banking and payment systems and unique consumer cultures. As such, it was crucial for Cabify to partner with a payments company that could support a broad scenario and offer a wide and comprehensive solution set. With Ingenico ePayments, they now have a partner that can support their ambitions and help successfully expand into new markets across the region.